Originally Posted by ITraffic

Originally Posted by KlenTelaris

How the fuck you can go bankrupt with 17mil cash? If i would won on lottery,i would simply put money on bank and live on interest.

Originally Posted by Rob

He won $500,000 on a scratch off. They took $180,000 off the top for taxes when he got the money. Since he won, it jumped him into a higher tax bracket, so he had to pay another $43,000 in taxes for the difference. He used almost all the winnings to pay off his house and car, so now he's trying to figure out how to pay the $43k in taxes. Fucked up situation if you ask me.

Originally Posted by OldJeff

Condensed version, they are fucking stupid

Originally Posted by PR_Phil

so fucking typical of lottery winners.

I mean, I want to feel bad, but who accepts a check for $320,000 and spends every penny before talking to an accountant.

and how is he screwed? he paid off $320,000 in debt, now has to take on $43,000 in debt, looks like a $277,000 win to me.

I have only ever met 2 people who won the lottery. 1 from Ottawa who won $1 M (non taxable) and one from London, ON who won $17 M (again, in Canada , so non taxable). First guy was wealthy before, but still quit his job and was bankrupt in 18 months. Second (couple who won $17M) came from no money, quit their jobs and went bankrupt in 30 months.

2 hours with a competent adviser and this wouldn't happen, that would be about $120, well spent.

Originally Posted by SuckOnThis

Simple solution, give the money back.